At its Capital Markets Day 2024, Allianz SE announced ambitious financial goals extending to 2027, building on its achievement of key 2024 targets.
Amid economic uncertainty, Allianz said that it plans to grow its customer base by introducing advanced protection and retirement solutions and improving service delivery.
The firm highlighted that its strategy revolves around three priorities: driving growth by acquiring new customers and increasing retention, improving productivity with efficiency measures and generative AI, and reinforcing resilience through a refined capital management framework.
In its property-casualty segment, Allianz projects annual revenue growth of 6-7% and an operating profit of approximately €9.5 billion by 2027, with a combined ratio of 92-93%.
In life and health insurance, it expects an operating profit of around €6 billion by 2027, with a new business margin of at least 5% and over 90% of new business value derived from preferred product lines.
In asset management, Allianz forecasts an operating profit of approximately €4 billion, a cost-income ratio of around 60%, and an 8% annual growth rate in third-party assets under management.
Chief executive officer Oliver Bäte (pictured above) explained that the company’s strategic direction focuses on sustainable and capital-efficient growth.
“Our focus for this next phase will be on translating the success of our customer-centric strategy, already evident in our leading brand strength and excellent customer satisfaction levels, into even higher sustainable, capital-efficient growth for our shareholders,” he said.
Allianz also noted that shareholders stand to benefit from the projected earnings per share of €25 in 2024 and a return on equity of approximately 16.5%, demonstrating financial stability and resilience.
On the customer satisfaction front, the company said that 72% of its businesses surpass their local market competitors in Net Promoter Score performance, while 57% are recognised as loyalty leaders.
The company also reported record employee engagement, with the Inclusive Meritocracy Index reaching 83% in 2024. For the first time, Allianz was ranked 17th on the World’s Best Workplaces list, an annual ranking by Great Place to Work. Allianz credited its ability to retain talent and foster trust among employees as a driver of improved customer service.
Additionally, Allianz said that its scalable reinsurance capabilities enable it to efficiently meet increasing demand for retirement products by leveraging synergies across its life insurance and asset management businesses.
Allianz attributes its momentum to its focus on customer relationships. This approach has resulted in a record-high brand valuation of $23.5 billion, as recognised in the latest Interbrand ranking. The company remains the top insurance brand globally for the sixth consecutive year and entered the Top 30 global brands for the first time.
This brand strength, coupled with high customer satisfaction and a strong service proposition, is expected to further drive Allianz’s growth and productivity goals.
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